Earnings Per Common Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Computation of basic and diluted EPS

The computations of basic and diluted EPS for the years ended December 31 were as follows:

TABLE 21.1: COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE

(Millions, except per share amounts)	2024		2023		2022
Numerator:
Basic and diluted:
Net income	$	10,129	$	8,374	$	7,514
Preferred dividends	(58)		(58)		(57)
Net income available to common shareholders	10,071		8,316		7,457
Earnings allocated to participating share awards	(76)		(64)		(57)
Net income attributable to common shareholders	$	9,995	$	8,252	$	7,400
Denominator:
Basic: Weighted-average common stock	712		735		751
Add: Weighted-average stock options (a)	1		1		1
Diluted	713		736		752
Basic EPS	$	14.04	$	11.23	$	9.86
Diluted EPS	$	14.01	$	11.21	$	9.85

(a)The dilutive effect of unexercised stock options excludes from the computation of EPS 0.05 million, 1.38 million and 0.39 million of options for the years ended December 31, 2024, 2023 and 2022, respectively, because inclusion of the options would have been anti-dilutive.